Fastest-Growing Retailers in the US
According to the latest figures by the National Retail Foundation, Wine.com tops the list of the fastest-growing retailers in the US. The study analyzes performances by retailers who brought in at least $300 million in sales, and compares their total domestic sales in 2020 against their 2019 figures.
Wine.com, a California-based retailer with a 50,000-strong product portfolio, saw sales nearly double from 2019 to 2020. In 2020, the company hit $329 million in sales – a tremendous 99.4 percent annual increase from the $165 million it recorded in 2019.
Second on the list of the fastest-growing retail companies in the US is Overstock.com. The online retailer, which focuses on home goods like decor, furniture, and appliances, saw sales skyrocket 74.4 percent, from $1.46 billion in 2019 to $2.55 billion in 2020.
Overstock.com is followed by Boohoo Group, a UK-founded fashion business with a global presence. The company’s retail operations in the US saw sales increase 60 percent year-over-year. In 2020, the company added $115 million to 2019’s sales to total $308 million.
In summary, Wine.com, Overstock.com, and Boohoo Group are the three fastest-growing retailers in the US in 2020.
The fourth- and fifth-fastest-growing retail companies in the US are Wayfair and 1-800-Flowers.com, growing by 54.6 percent and 50.8 percent, respectively.
Wayfair, a Boston-headquartered ecommerce company selling home goods and furniture, boosted its 2020 sales by more than $4 billion. Experts attribute this to the growing number of consumers shopping online as a result of the coronavirus pandemic, which shut brick-and-mortar stores and forced people to remain home.
Sales from 1-800-Flowers.com grew by 50.8 percent, increasing from $1.45 billion in 2019 to $2.18 billion in 2020.
These five fast-growing retailers are the only ones on the list that saw year-over-year sales rise by more than 50 percent.
Here’s a list of the sixth- to tenth-fastest-growing retailers in the US and their 2020 sales growth:
- Boxed.com: 47 percent ($232 million)
- Amazon.com: 33.7 percent ($47.25 billion)
- Schwarz Group: 31.8 percent ($345 million)
- EC Group: 30.6 percent ($559 million)
- Ollie’s Bargain Outlet: 28.4 percent ($401 million)
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